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Old 04-20-2014, 02:01 AM
 
26,129 posts, read 28,521,132 times
Reputation: 24844

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Quote:
Originally Posted by hljc View Post
Ask the greedy investor and his friend the filthy rich politician who sold out America and gave the foreigner the jobs and which undercut the work so the exercise tax does not get paid which allow foreign goods in the Country and below the market value for the Country of America can do .......See we need the exercise taxes for the workers as the investors can still make a profit with this tax so the hypocrisy in economics will not work and the economy will look good but will never recover to the good times now
The "exercise" tax? And you expect us to take your post seriously?
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Old 04-20-2014, 02:05 AM
 
26,129 posts, read 28,521,132 times
Reputation: 24844
Quote:
Originally Posted by TuborgP View Post
Add to that mix the millions who adapted to the new economy and are prospering as greedy investors, perhaps not greedy but adaptive Americans. I am curious if you have figured out that the secret is a hunger for investing is their a reason you are on the sideline? Many funds can be opened with $100.
I wouldn't say many, but there are a few decent funds out there that have small minimum balance requirements.

Specifically, I'm thinking of Amana Growth and Amana Income. If you designate your account as an IRA (Regular or Roth, doesn't matter), the minimum is only $100.

For regular taxable accounts, the minimum with Amana funds is $250.

Subsequent investments are only $25 for both regular taxable accounts & IRAs.

Their expense ratios are a bit high, but both funds have better than average long term returns:

Amana Growth Investor Purchase Info
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Old 04-20-2014, 11:21 AM
 
Location: SoCal desert
8,093 posts, read 13,238,618 times
Reputation: 14870
Quote:
Originally Posted by Gandalara Then the living expenses are too high. Expenses can always be lowered.

No matter what your hourly wage is, you should be saving 10%.
Whether it's $1.25 an hour or $50 an hour.
Quote:
Originally Posted by Linda_d View Post
Spoken like somebody who's never had to support oneself and possibly others on 25 cents more than minimum wage.
Well, you're wrong.
Gee, what a surprise.
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Old 04-20-2014, 12:38 PM
Q44
 
Location: Hudson Valley, NY
895 posts, read 766,594 times
Reputation: 1761
Quote:
Originally Posted by eastmemphisguy View Post
True low wage workers (not talking about the $20/hour folks) don't usually live as long as everybody else. An enormous number drop in their 50s and 60s, still in debt and working paycheck to paycheck.
I was thinking it, you had the nerve to say it. There's an indisputable link between income, health, healthcare and longevity.

The other point is the progressive schedule of SS. A larger percentage of income is replaced for low income earners. I believe a low income earner would receive 90% of the first $9200 in annual income and 32% of income over that as payment. Not suggesting that's enough to live on comfortably but with a part time job it can be done.
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Old 04-20-2014, 01:09 PM
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Location: Hudson Valley, NY
895 posts, read 766,594 times
Reputation: 1761
Quote:
Originally Posted by PastTense01 View Post
Note there are three major costs retired people shouldn't have:
1. Cost of raising children
2. Cost of employment (business clothing to gasoline...)
3. Cost of mortgage (you should be able to pay off a 20 year mortgage in a 40 year working life--although this doesn't apply to people who keep trading up to fancier and fancier homes)

But basically I doubt if most of the posters here understand how the lower 20% of the population can possibly survive because they don't have a middle class income.
Quote:
Originally Posted by lulo View Post
1. Even when you are old, you still pay school district taxes.
School taxes are hardly the major expense involved with raising kids. There's a few other costs involved.

Personally, even in retirement I won't be too put off by school taxes. I look at good school systems as a component of a good community.
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Old 04-20-2014, 01:26 PM
 
Location: southern california
55,667 posts, read 74,646,551 times
Reputation: 48187
How sad all the subsequent posts are sob stories and explanation of failure
Stop it grow up stand up and fight for your future

Last edited by Huckleberry3911948; 04-20-2014 at 02:54 PM..
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Old 04-20-2014, 01:36 PM
Q44
 
Location: Hudson Valley, NY
895 posts, read 766,594 times
Reputation: 1761
Quote:
Originally Posted by nicet4 View Post
Part of the problem for many is 44% of those receiving social security opted to start taking it at age 62 which, with a couple exceptions, is a huge mistake.

But to just take it when you really don't need it, because it is there, is a real stupid mistake in my opinion.

Taking it early is one of the biggest reasons some recipients have low amounts.

Looking at the chart on the bottom if someone can simply (easier said than done for some) work to age 70 they can dearly double their monthly check from $1,500 to to $2,640 by simply working eight more years.
I'm not one of the doomsday paranoid take it because it won't be there crew. My retirement will more or less be comprised of equal parts pension, SS and my 401k. If I don' t take it from SS I have to take more from my 401k. As it stands I can be discretionary with my 401k/IRA withdrawals. I know all about break even ages and to me it would be as you say stupid, to risk taking from my finite account while I have money sitting in SS. I'm hoping to be able to leave something behind. Much easier to accomplish if I minimize the withdrawals from my personal account and use the funds I lose if I don't use.

It's not being stupid it's just a different perspective.
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Old 04-20-2014, 01:52 PM
 
Location: South Florida
1,464 posts, read 915,038 times
Reputation: 702
As mentioned previously here, I do think everybody should save at least 10% of their income, no matter how much or how little they earn.
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Old 04-20-2014, 02:29 PM
 
Location: Somewhere in deep in Maine
3,658 posts, read 2,813,737 times
Reputation: 4436
Quote:
Originally Posted by StabbyAbby View Post
I've heard about some people who move overseas to maximise their spending power. You can live very well on USD or AUD or EUR$1000/month in Mexico, Thailand, Bulgaria, Costa Rica, Vietnam, etc.
But you have to know where you are going. You need a good expat community or you will feel very lonely, and you need to make arrangement for health care. Its not a great as it sounds because life is really not just about money.
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Old 04-20-2014, 02:31 PM
 
Location: Somewhere in deep in Maine
3,658 posts, read 2,813,737 times
Reputation: 4436
Quote:
Originally Posted by Besitomio View Post
As mentioned previously here, I do think everybody should save at least 10% of their income, no matter how much or how little they earn.
I have a great pension that was supported by a government, and not able to be taken away due to the state constitution. But for 33 years, they took 10% out of my take home pay(not the gross). I had no choice but to save for it.
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